Y Intercept Hong Kong Ltd Acquires Shares of 109,352 Kirby Corporation $KEX

Y Intercept Hong Kong Ltd acquired a new stake in Kirby Corporation (NYSE:KEX) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 109,352 shares of the shipping company’s stock, valued at approximately $9,125,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Luminus Management LLC lifted its position in Kirby by 292.0% in the third quarter. Luminus Management LLC now owns 116,956 shares of the shipping company’s stock valued at $9,760,000 after acquiring an additional 87,120 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of Kirby during the third quarter worth about $2,030,000. VELA Investment Management LLC increased its position in shares of Kirby by 11.5% during the third quarter. VELA Investment Management LLC now owns 160,475 shares of the shipping company’s stock worth $13,392,000 after purchasing an additional 16,615 shares in the last quarter. DAVENPORT & Co LLC lifted its holdings in shares of Kirby by 29.8% in the 3rd quarter. DAVENPORT & Co LLC now owns 263,943 shares of the shipping company’s stock valued at $22,026,000 after purchasing an additional 60,635 shares during the last quarter. Finally, Bailard Inc. acquired a new stake in shares of Kirby in the 2nd quarter valued at about $692,000. Institutional investors and hedge funds own 96.15% of the company’s stock.

Kirby Stock Down 1.5%

Shares of Kirby stock opened at $128.75 on Friday. Kirby Corporation has a one year low of $79.51 and a one year high of $132.18. The company has a market cap of $6.98 billion, a P/E ratio of 23.89, a PEG ratio of 1.12 and a beta of 0.88. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.08 and a current ratio of 1.70. The firm has a fifty day moving average of $115.21 and a two-hundred day moving average of $103.41.

Kirby (NYSE:KEX) last issued its earnings results on Wednesday, October 29th. The shipping company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.05. The business had revenue of $871.16 million for the quarter, compared to the consensus estimate of $843.29 million. Kirby had a net margin of 9.22% and a return on equity of 10.05%. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.55 earnings per share. On average, analysts forecast that Kirby Corporation will post 6.57 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Amy D. Husted sold 10,413 shares of Kirby stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $107.42, for a total value of $1,118,564.46. Following the sale, the vice president directly owned 11,760 shares in the company, valued at $1,263,259.20. The trade was a 46.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Christian G. O’neil sold 11,145 shares of the company’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $111.68, for a total value of $1,244,673.60. Following the transaction, the chief operating officer directly owned 14,835 shares in the company, valued at $1,656,772.80. This represents a 42.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 57,147 shares of company stock worth $6,204,544 in the last three months. Company insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

KEX has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Kirby in a research report on Thursday. Citigroup lifted their target price on shares of Kirby from $131.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday. BTIG Research upped their price target on shares of Kirby from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, January 15th. Evercore ISI raised their price objective on shares of Kirby from $109.00 to $122.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Finally, Wall Street Zen upgraded shares of Kirby from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $130.50.

Kirby Profile

Kirby Corporation is a leading domestic maritime transporter of bulk liquid products in the United States. Through its Marine Transportation segment, the company operates one of North America’s largest fleets of inland tank barges and towing vessels. Kirby’s fleet moves petrochemicals, black oil, refined petroleum products and agricultural chemicals along coastal and inland waterways, providing critical logistical support to energy, chemical and agricultural producers.

In addition to its marine operations, Kirby’s Distribution and Services segment offers diesel engine and power generation services, along with aftermarket parts sales.